Scana Completes Sale of Daughter Companies to HitecVision

Scana Industrier ASA (“Scana”) has completed the transaction regarding the sale of its daughter companies Scana Offshore Services Inc, Scana Offshore Technology AS and the service part of Scana Offshore Vestby AS.

HitecVision fond VI acquired the companies for $22.5 million.

Scana Offshore Services was bought in 2008 from local founders in Houston, USA. The company has had a very positive growth during the last year, and after moving into new production facilities and introduction of own products, the company has increased its market share in the Gulf of Mexico.

Scana Offshore Technology was established in 2006 at Jørpeland outside Stavanger. The company provides services and maintenance and repair of equipment to the oil and gas industry.

Scana Offshore Vestby was established after the acquisition of Brødrene Johnsen AS and AMT AS in 2006. The Service part of Scana Offshore Vestby delivers maintenance services of risers as a part of their services.

All these companies are a part of the business area Scana Offshore.

Subsea World News Staff, May 26, 2014

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